Former employees of bankrupt Steward Health Care may soon collectively lose tens of millions of dollars in retirement savings, as financial reckoning continues for the system that once operated eight hospitals in Massachusetts.
Those employees put their trust — and their savings — with the company, only to see their retirement funds revert to Steward as it works to resurrect a viable business from what was the largest private, for-profit hospital network in the country.
Earlier this month, the federal bankruptcy court in Houston overseeing Steward’s Chapter 11 proceedings ordered the employees’ retirement programs dissolved. The order called for almost $60 million from the savings plans be transferred to Steward to pay off company…
